America’s Chance To Blunt China’s Encroachment
Offering better investment terms to developing countries is essential to prevent Beijing from controlling the supply of important natural resources.
While the U.S. rightfully focuses on bringing its hostages home from Gaza and alleviating broader tensions in the Middle East, the U.S.-China competition continues unabated. The supplemental funding package for Israel that President Biden proposed in October contains a $1.25 billion funding request for the International Bank for Reconstruction and Development—a part of the World Bank—to help developing nations such as Kenya, Morocco and Nigeria get loans from Western organizations instead of from China. Congress should endorse this package and enact additional measures to weaken Chinese economic influence in the developing world.